The Transition can reach around 70 miles per hour on the road and 115 in the air. It flies using a 23-gallon tank of automotive fuel and burns 5 gallons per hour in the air.
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THE ASSOCIATE PRESS

The Terrafugia Inc. prototype flying car, dubbed the Transition, has two seats, four wheels and wings that fold up so it can be driven like a car, and flew at 1,400 feet for eight minutes during the test on March 23, 2012.

Flying cars aren't just science fiction anymore.

Woburn, Mass.-based Terrafugia Inc. said Monday that its prototype flying car has completed its first flight, bringing the company closer to its goal of selling the flying car within the next year. The vehicle &#8212; dubbed the Transition &#8212; has two seats, four wheels and wings that fold up so it can be driven like a car. Last month, it flew at 1,400 feet for eight minutes. Commercial jets fly at 35,000 feet.
Terrafugia Inc. prototype flying car, dubbed the Transition, travels down a street with its wings folded.

Around 100 people have already put down a $10,000 deposit to get a Transition when they go on sale, and those numbers will likely rise after Terrafugia introduces the Transition to the public later this week at the New York Auto Show. But don't expect it to show up in too many driveways. It's expected to cost $279,000.

And it won't help if you're stuck in traffic. The car needs a runway.
The Transition has two seats, four wheels and wings that fold up so it can be driven like a car, and flew at 1,400 feet for eight minutes during the first test on March 23, 2012.

The flying car has always had a special place in the American imagination. Inventors have been trying to make them since the 1930s, according to Robert Mann, an airline industry analyst who owns R.W. Mann & Co. in Port Washington, N.Y.

But Mann thinks Terrafugia has come closer than anyone to making the flying car a reality. The government has already granted the company's request to use special tires and glass that are lighter than normal automotive ones, to make it easier for the vehicle to fly. The government has also temporarily exempted the Transition from the requirement to equip vehicles with electronic stability control, which would add about six pounds to the vehicle. The Transition is currently going through a battery of automotive crash tests to make sure it meets federal safety standards.

A major hurdle to production of the Transition was removed recently when FAA granted the company a waiver to weight restrictions.

Mann said Terrafugia was helped by the Federal Aviation Administration's decision five years ago to create a separate set of standards for light sport aircraft. The standards govern the size and speed of the plane and licensing requirements for pilots, which are less restrictive than requirements for pilots of larger planes. Terrafugia says an owner would need to pass a test and complete 20 hours of flying time to be able to fly the Transition, a relatively low hurdle for pilots.

Cheaper too
How much do they cost?
Target price of the kit is $60k without engine or avionics, resulting in an overall targeted price of approximately $85k. Much of this will be determined by the actual price of the kit, and the engine choice that the builders make.

Can I drive this on the freeway?
Yes you can. Our current ground test vehicle recently exceeded 100 mph in testing, which should be ample speed for even the Autobahn.

What performance can be expected of the vehicle?
See Vehicle Preliminary Specifications under the Vehicles pull-down tab for updated vehicle specifications. The Switchblade has the power-to-weight ratio of a Ferrari, so ground performance should be excellent. Air speeds up to 200 mph are anticipated, and will be verified by actual flight of our prototype soon.

What will takeoff be like?
Takeoff roll should be fairly short, with brisk acceleration on the ground. Once ground speed exceeds 80 mph, the vehicle should begin to lift off by itself due to the wings being set at an angle of attack for take-off. This is similar to a B-52 bomber, which does not rotate on take-off. A slight pull-back on the wheel brings the vehicle upwards, followed by a climb of ~ 1,800 fpm.

What fuel is used?
Unleaded or premium automotive gasoline for our first models. We have already finished layouts for both hybrid, and electric drive systems pending on an appropriate battery solution.

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